Houston rises in the ranks of best cities for veteran entrepreneurs

best of the rest

Houston is among the top cities for veteran entrepreneurs. Photo via Getty Images

Houston has moved up the ranks in an annual study of the top places in the U.S. for veteran entrepreneurs.

The study, conducted by the PenFed Foundation and Edelman Data & Intelligence, puts Houston at No. 5 among the best metro areas for veteran entrepreneurs. That’s up from No. 12 in the 2021 study.

The study cites Houston’s economic growth, support for veterans, strong employment, and low unemployment rate among veterans as factors favoring veteran entrepreneurs.

More than 300,000 military veterans live in the Houston area. That’s the second largest population of veterans in the U.S.

Due to the Houston area’s robust veteran population, Bayou City was chosen in 2018 as the site for the third local chapter of Bunker Labs, an accelerator and incubator for military-affiliated entrepreneurs.

At No. 1 in the study is Washington, D.C., followed by:

2. New York City
3. Seattle
4. Dallas-Fort Worth
5. Houston
6. Austin
7. Sioux Falls, South Dakota
8. Cleveland
9. Rapid City, South Dakota
10. Boston

Elsewhere in Texas, McAllen-Edinburg-Mission landed at No. 20 and San Antonio at No. 23.

The study analyzed four categories for each city: livability, economic growth, support for veterans, and ability to start a business. The study evaluated 390 metro areas.

“As the nation navigates the economic impacts of inflation, the study focused especially on how inflation impacts cities differently,” says the PenFed Foundation, established by PenFed Credit Union.

This is the third year for the study.

“We want to help cities across the United States understand which environments are best suited for military veterans to start and grow businesses, and inspire city leaders to take the actions needed to support veteran entrepreneurs,” James Schenck, president and CEO of PenFed Credit Union and CEO of the foundation, says in a news release.

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Houston's top innovators named, VC activity takes a hit, and more top tech, startup news from the week

now trending

Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included the the Houston Innovation Awards finalists being named, a new report that shows Houston venture funding is down, and more.

Top innovators: 2024 Houston Innovation Awards finalists revealed

Here's what Houston startups and innovators will be honored at the Houston Innovation Awards on November 14. Graphic via Gow Media

After nearly 300 nominations, InnovationMap and its group of judges are ready to reveal the finalists for this year's Houston Innovation Awards.

Taking place on Thursday, November 14, the Houston Innovation Awards celebrates all of Houston's innovation ecosystem — startups, entrepreneurs, investors, mentors, and more. Over 50 finalists will be recognized in particular for their achievements across 13 categories, which includes the 2024 Trailblazer Legacy Awards that were announced earlier this month.

Click here to see the 2024 Houston Innovation Awards finalists.

After trending up all year, Houston VC activity drops in Q3

During the third quarter of 2024, Houston-area companies saw a 15 percent decrease of VC investment compared to the third quarter of 2023. Photo via Getty Images

New data from the PitchBook/NVCA Venture Monitor reveals a seesaw pattern in the Houston area’s venture capital funding.

VC fundraising by Houston-area companies climbed during the first part of this year compared with the same period last year, according to the latest PitchBook/NVCA Venture Monitor. But from 2023 to 2024, the region’s third-quarter VC haul fell by a double-digit percentage.

In the first three quarters of 2024, Houston-area companies collected $1.24 billion in venture capital, the PitchBook/NVCA Venture Monitor shows. That’s up eight percent from the $1.15 billion raised in the first three quarters of 2023. Continue reading.

Houston health care leader secures funding, milestones for latest initiatives across cancer, stroke, and more

UTHealth Houston has secured millions in grant funding — plus has reached a new milestone for one of its projects. Photo via utsystem.edu

UTHealth Houston is making waves in many disciplines right now. From cancer to Alzheimer’s disease to stroke, the institution is improving outcomes for patients in new ways. Last week, UTHealth announced three exciting updates to its roster of accomplishments.

On October 8, UTHealth announced that it had received a $4.8 million grant from the National Cancer Institute, aimed at helping cancer survivors to continue their healing and enhancing primary care capacity. It will be put into action by UTHealth researchers working with eight community health centers around Texas that treat un- and underinsured patients. The initiative is called Project CASCADE, which stands for Community and Academic Synergy for Cancer Survivorship Care Delivery Enhancement.

“Project CASCADE focuses on how primary healthcare teams provide whole-person and coordinated care to underserved patients who have a history of cancer,” says Bijal Balasubramanian, professor of epidemiology and the Rockwell Distinguished Chair in Society and Health at UTHealth Houston School of Public Health, a multiple principal investigator of the study. “Primary care is uniquely suited to deliver whole-person and coordinated care for cancer survivors because, at its core, it prioritizes, personalizes and integrates healthcare for all conditions, not just the cancer.” Continue reading.

Houston biotech VC firm's portfolio cos. score $5.3M in federal funding

Three of First Bight Venture's portfolio companies have secured federal funding. Photo via Getty Images

Three portfolio companies of Houston venture capital firm First Bight Ventures have received a combined $5.25 million from the U.S. Defense Department’s Distributed Bioindustrial Manufacturing Program.

“The allocation of funds by the federal government will be critical in helping grow biomanufacturing capacity,” Veronica Breckenridge (née Wu), founder of First Bight, says in a news release. “We are very proud to represent three dynamic companies that are awardees of this competitive and widely praised program.” Continue reading.

NASA awards Houston university $1.2M for diversity in aerospace initiative

The funding will go toward promoting diversity in aerospace workforce development. Photo via UH.edu

NASA will award the University of Houston $1.2 million toward a collaborative project with some of the biggest players in aerospace to foster diversity in the field.

The funds will go toward UH's Partnership for Inclusivity in Engineering Education and Research for Space, or PIE2RS, which is a collaboration between UH, UH-Clear Lake, NASA’s Johnson Space Center, the Boeing Company, and the Greater Houston Partnership. Continue reading.

Houston co. unveils Prada-designed spacesuit to be used on the moon

from catwalk to moonwalk

Fashion met the future this week as Houston-based Axiom Space and the Prada apparel brand revealed the design of the spacesuit that NASA astronauts will wear during their upcoming journey to the moon.

Axiom, a space exploration company, and Prada, a fixture in the world of luxury fashion, debuted their design of the Axiom Extravehicular Mobility Unit (AxEMU) spacesuit at the International Astronautical Congress in Milan, Italy.

Set for 2026, NASA’s Artemis III mission will be the first “staffed” lunar landing since Apollo 17 in 1972. Four astronauts have been selected for the 30-day mission.

Components of the white, gray, and red spacesuit include:

  • Lights
  • HD camera
  • Cellular communications
  • “Endurance athlete”-style nutrition
  • Backpack with portable life support system
  • Custom-made gloves
  • Boots designed to withstand lunar temperatures and rough terrain

The spacesuit work is being performed under a nearly $1.3 billion NASA contract. Photo courtesy of Axiom Space

Axiom says the suit, which fits men and women, will enable astronauts to perform a spacewalk for at least eight hours. It’s geared toward lunar missions and low-earth-orbit missions.

“The AxEMU has significant advancements in safety, mobility, sizing, and performance,” the company says.

During development of the suit, Axiom placed a dark cover on the outer layer to conceal the suit’s proprietary technology. However, the suits worn on the lunar surface will be made from a white material that reflects heat, and protects astronauts from extreme high temperatures and lunar dust.

The spacesuit work is being performed under a nearly $1.3 billion NASA contract.

“Going beyond our limits is one of the company’s values that perfectly reflects the spirit of the Prada brand and my parents’ vision. I’m very proud of the result we’re showing today, which is just the first step in a long-term collaboration with Axiom Space,” Lorenzo Bertelli, Prada’s chief marketing officer and head of corporate social responsibility, says in a news release.

Axiom says the suit is near the final stage of development. Already, it has gone through testing by astronauts and engineers at Axiom, NASA, and SpaceX facilities. Among the tests were reduced-gravity simulations at NASA’s Johnson Space Center in Houston and underwater simulations at NASA’s Neutral Buoyancy Laboratory, also in Houston.

The suit will undergo an in-depth design review in 2025.

Houston college system provides support, resources for local entrepreneurs

hou made

Launching and growing small businesses and startups can take a village, and Houston Community College has a program that can help be that village for entrepreneurs.

HCC's HOU Made, which launched in 2021 and is run from HCC's West Houston Institute, is a free initiative that provides programming — workshops, resources and networking — to local businesses.

"It is designed to open up HCC's Makerspace to the public with access to tools and resources that were previously reserved for staff, faculty and students,” Connie Leon, the program’s coordinator, says in a news release. “The initiative gives small business owners access to use the Makerspace after their representatives attend a series of workshops.”

In addition to the workshops, which range from business 101 and branding to scaling operations, participants have access to equipment like laser cutters, 3D printers and heat press machines. One program within HOU Made is the Maker to Market initiative that provides entrepreneurs with materials including tents, tables, and marketing collateral to help set up pop-up stores for markets.

The program also provides opportunities with key financial advisers and partners like Chase Bank. LaShan Arceneaux, owner of Three Lumps of Sugar that creates mixes for cocktails, secured a $12,000 startup loan from participating in the program.

"I plan to use the loan to have a website built, and to purchase equipment and business supplies such as mixers, aprons, and supplies needed for business. This will allow me to grow the business successfully," Arceneaux says in the news release.

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